Worldwide Ovarian Cysts Market 8.2% of Growth Rate Expected by 2023; Asserts MRFR

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The Global Ovarian Cysts Market are expected to grow at an approximate CAGR of 8.2% during the forecast period. 

Ovarian cysts are closed, sac-like structures filled with a liquid or semisolid substance within the ovary.

The formation of ovarian cysts in ovulating females is common. However, if the formation of ovarian cysts occurs after the menopause, then a high risk for the development of the ovarian cancer is suspected. Increasing prevalence of the ovarian cysts is likely to drive the market growth during the forecast period. According to a study published in the Journal of Clinical Research in Paediatric Endocrinology in 2017, the frequency of ovarian cysts is about 1.8% in children aged between 5-9 years and 18.8% in those who aged between 10-18 years.

Moreover, it is estimated that with the onset of adolescence and increasing age, the frequency of ovarian cysts increases and ranges in between 3.8%-31.3%. Moreover, rising healthcare expenditures, increasing awareness about woman health are projected to boost the market growth during the forecast period. However, lack of awareness and low per capita healthcare expenditure in the developing countries may hamper the market growth. 

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Key players in global ovarian cysts market

• Pfizer Inc. (U.S.),
• Teva Pharmaceutical Industries Ltd. (The Middle East & Africa),
• Quest Diagnostics Incorporated. (U.S.),
• Novartis AG (Europe),
• General Electric Company (Europe),
• Merck & Co., Inc. (U.S.),
• Boston Scientific Corporation (U.S.),
• Medtronic (U.S)

 Regional Analysis

America dominates the global ovarian cysts market owing to a well-developed healthcare sector and huge patient population for ovarian cysts. Apart from this, changing lifestyle and increasing healthcare expenditure have boosted the growth of the market in America. In 2015, according to the Centres for Disease Control and Prevention, in the U.S. the total healthcare expenditure accounted for 17.8% of the total gross domestic product (GDP), which accounted for USD 3.2 trillion. 

Europe is the second largest ovarian cysts market, which is followed by Asia Pacific. Availability of funds for research, huge patient population, increasing healthcare expenditures, well-developed healthcare sector and government support for research & development are projected to drive the market growth during the forecasted period. Regionally, Europe is divided into Western Europe and Eastern Europe. Western Europe holds the major share of the regional market, which is majorly contributed by Germany, the U.K., and France. However, Eastern Europe is the fastest growing region due to the huge opportunities in the untapped market. 

Asia Pacific is the fastest growing region in the global the market due to the presence of a huge patient population, continuously developing economies like India and China, and presence of huge opportunity in the market. Moreover, favorable government policies and increasing healthcare expenditures fuel the market growth within the region. 

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On the other hand, the Middle East & Africa holds the least share of the global ovarian cysts market due to the presence of poor economy, especially, in the African region. Majority of the market of this region is held by the Middle East due to the well-developed healthcare sector and huge healthcare expenditure by the presence of economies like Kuwait, Saudi Arabia, Dubai, and Qatar.  

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